Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h +0.086%

Price spread now: Backpack against Gate+0.319%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.686%+$69 on $10k

Price spread, last 4 days (all we have)−0.279%−$28 · spread now +0.319%, 7d avg +0.027%

Together, before fees+0.407%+$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.293% dearer against Gate than usual: you sell high and buy low (spread +0.319% now, against its 7-day average of +0.027%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days. Mind the row above: over the last 7 days funding on this pair paid +0.686%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XMR_USDT	576.16	0.0427	pay 0.0427% / 8h	4h 45m	$1.5M	$4.5M	50x
Short	Backpack XMR_USDC_PERP	578.00	0.0380	get 0.0047% / 1h	45m 13s	$169K	$534K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee BackpackbpOrdersPrice spread, now +0.319%Rate

Funding earned: −$9.91
Price spread: +0.319% → +0.027%: $29.27
Slippage, 4 orders: −$34.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$40.52
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Backpack: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 3 min ago	6.31 bp	22.0 bp −$22	51.6 bp −$516	doesn't fit	doesn't fit
Sell Backpack live order book, 14 min ago	0.43 bp	6.5 bp −$6	27.2 bp −$272	doesn't fit	doesn't fit

XMR on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+1.109%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0010%	1h	575.70	−0.079%	$45K	—	150x	as long as short
Lighter XMR	+0.0096%	1h	575.77	−0.068%	$3.3M	$7.4M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	578.82	+0.462%	$1.0M	$656K	10x	as long as short
Polymarket Perps XMR-USD	+0.0100%	1h	576.73	+0.099%	$29K	$2.1M	5x	as long as short
SunX XMR-USDT	+0.0100%	8h	575.87	−0.050%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	575.36	−0.139%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0149%	1h	574.93	−0.213%	$5.4M	$19.6M	50x	as long as short
Aevo XMR-PERP	+0.0200%	1h	576.57	+0.070%	$12K	—	3x	as long as short
Backpack XMR_USDC_PERPshort	+0.0380%	1h	578.00	+0.319%	$169K	$534K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX XMR-USD	+0.0389%	1h	575.88	−0.048%	$104K	$44K	5x	as long as short
Bybit XMRUSDT	+0.0420%	8h	576.22	+0.010%	$46.8M	$63.9M	75x	as long as short
Gate XMR_USDTlong	+0.0427%	8h	576.16	long leg	$1.5M	$4.5M	50x
MEXC XMR_USDT	+0.0484%	8h	576.26	+0.017%	$20.3M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0484%	8h	576.21	+0.009%	$52.5M	$164.7M	75x	as long as short
BingX XMR-USDT	+0.0542%	8h	576.54	+0.066%	—	$5.6M	—	as long as short
Bitget XMRUSDT	+0.0564%	8h	576.87	+0.123%	$9.4M	$14.0M	50x	as long as short
KuCoin XMRUSDTM	+0.0600%	8h	575.61	−0.095%	$47.3M	$25.0M	50x	as long as short
Hyperliquid XMR	+0.0626%	1h	577.08	+0.160%	$86.7M	$71.1M	5x	as long as short
Pacifica XMR	+0.0626%	1h	576.92	+0.132%	$266K	$1.1M	10x	as long as short
Nado XMR-PERP	+0.0668%	1h	577.06	+0.157%	$1.3M	$464K	10x	as long as short
Aster XMRUSDT	+0.0691%	8h	576.71	+0.095%	$645K	$2.4M	75x	as long as short
SoDEX XMR-USD	+0.0716%	1h	576.41	+0.043%	$438K	$3K	5x	as long as short
Extended XMR-USD	+0.0728%	1h	576.29	+0.022%	$3.1M	$8.3M	25x	as long as short
BloFin XMR-USDT	+0.0751%	8h	576.42	+0.045%	$2.7M	$11.2M	75x	as long as short
Paradex XMR-USD-PERP	+0.0791%	8h	576.75	+0.102%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.0851%	8h	579.20	+0.527%	$336K	$741K	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0990% / S −0.1252%	1h	575.53	−0.109%	$592K	—	100x	as long as short
Variational Omni XMR	+0.1031%	8h	578.24	+0.362%	$6.6M	$2.3M	—	as long as short
Orderly PERP_XMR_USDC	+0.1106%	8h	576.30	+0.024%	$41K	$720K	10x	as long as short
Aftermath Perps XMRUSD	+0.2235%	1h	578.63	+0.429%	$1K	$45K	10x	as long as short